Prudential PLC Has $1.91 Million Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Prudential PLC grew its stake in Teleflex Incorporated (NYSE:TFX) by 50.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,703 shares of the medical technology company’s stock after purchasing an additional 3,604 shares during the quarter. Prudential PLC’s holdings in Teleflex were worth $1,905,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vontobel Holding Ltd. lifted its stake in Teleflex by 21.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock valued at $248,000 after buying an additional 250 shares during the period. JPMorgan Chase & Co. grew its holdings in Teleflex by 14.3% during the third quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after purchasing an additional 19,466 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Teleflex by 5.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock valued at $19,263,000 after purchasing an additional 5,322 shares during the period. Lecap Asset Management Ltd. bought a new stake in Teleflex in the fourth quarter valued at approximately $729,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Teleflex by 35.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company’s stock worth $1,053,000 after purchasing an additional 1,527 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TFX shares. Piper Sandler restated a “neutral” rating and issued a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Citizens Jmp cut Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Wells Fargo & Company cut their price target on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial lowered their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Teleflex currently has an average rating of “Hold” and an average target price of $182.63.

Teleflex Price Performance

Shares of NYSE TFX opened at $131.93 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The business has a 50-day moving average of $154.86 and a 200-day moving average of $186.26. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.73 and a beta of 1.19. Teleflex Incorporated has a fifty-two week low of $128.55 and a fifty-two week high of $249.91.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.03. The firm had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. As a group, sell-side analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, March 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. Teleflex’s dividend payout ratio is currently 95.77%.

Teleflex Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.